The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-23
CONDITION OF THE MARKETS
Considerable Excitement and a Bullish
Feeling in the Wheat Pit.
Corn Opens Weak, but After q Slight I'm
proyement Closes at About Wednesdays
Prices-Provision Generally Dnll.
MONEY, BONDS AND STOCKS.

Stocks Open Excited and Higher as q ise-
suit of the Treasury Policy.
NEW YORK, Sept. 22-Money on call was
easy, ranging from 386 per cent. the last loan
being at 3, and closing offered at 2.
Prime mercantile paper, per cent.
Sterling exchange is feverish, but unchanged.
The total sales Of stocks to-day were 1885,. $40
shares. including: Canada Southern, 1880;
Delaware, Leckawanna d Western, $4,000;
Erie, $780, Kansas & Texas. 307O Lake Shore,
10, 900; Louisville & Nashville. 13, $50; Missouri
Pacific, IL o40; North western, Il, Oo0 New Jersey
Central, f. 300; Northern Pacific preferred, 3.4lo;
Oregon Transcontinental. 4.71O; Reading. o.
400; st. Paul. 81, 200: st. Paul & Omaha, 1900;
Texas Pacific, 6,570; Union Pacific, $685.
Western Union, 40 655.
The stock market was much less active 10 oay'
the inclination being to await developmentsl In re-
gard to the new Treasury policy, while the pears
were not go prominent. under the improved
feeling the street The feverishness OF the
past few DAYS still remained, bat fluctuations
were much narrower than for a week past ana
the dealings were comparatively devoid or spe-
eial feature. The circular OF tina treasury IN
duced free buying for the long account. which
with the purchases for the foreigners, which as
eumed large proportions opened tho market
very high The home demand was soon sup
piled, though the activity and emf at the
ppenine were equal to anything seen during the
week. The high figures brought out free real
izationa and some resistance from the pears, ana
&
brought about The conhdsnt feeling again
found expression. however, later in the day,
when another advance, stimulated by favorable
rumors, was brought about. 1t was SAID thas
a large amount OF Der cents were to be offered
from this city to-day, and also that Messrs.
Gould and Sage had purchased the Baltimore %
Ohio telegraph system. Western Union became
the pivotal stock by reason of this and leo the
afternoon advance. The same stocks led In the
dealings, but were much qnieter and compare
lively featursless The opening was extraordi-
narily strong at advances in the active list ex-
tending to IL per cent and in special cases to
over per cent Further slight gains were
made in the early dealings. when the best ngures
Of the day were recorded, but the pressure
to sell turned the course OF pri-
ces downward. and losses ranging up TO
ii per cent were sustained. The market then
became feverish and unsettled, but generally
weak and relapsed into dizziness. III the after
noon. however the current again changed. and
prices slowly crspt mp, and in the last hour
decided strength was developed under tse lead
firm, at near the best figures OF the day. Clos
ing prices are almost Invariably higher, az COM
pared with yesterdays figures, and Lake Erie
q Western preferred is up BIC, Manhattan 24c,
Omaha lie, Delaware & Hudson 1}c, Reading
11c Western Union l4c, North western lsc, and
Michigan Central lie.
Railroad bonds were more active and stronger.
Sales 1929 00O Several marked advances were
scored, and Chesapeake & Ohio, series B. coupon
off rose g. to 60; the tours 2, to Co. Louisville 81
New Albany irsts to 112 Kansas 81 Texas q, to
gO2; Texas Pacific income receipts o. TO 46t;
Richmond & Allegheny receipts p. to $50;
Richmond g. West Point Trust skies 5, to SO;
shenandoah Valley general SKIES 3. to IS; Wa
bash, Chicago division 3, to 90; tho convertibles
81 to 864.
firm. State bonds were neglected. The closing
bids